GeoJunxion (GOJXN.AS) announces the closing of 2 location intelligence service contracts with combined value exceeding Euro 600K

Capelle aan den IJssel, The Netherlands – 6 May 2021GeoJunxion (GOJXN.AS) is pleased to announce the closing of 2 bespoke Location Intelligence Service contracts with a combined value exceeding Euro 600K. 

Built-Up Areas

Following a successful pilot project, further tailoring and refinement of the product specification, GeoJunxion has closed a significant location intelligent service contract for the creation and delivery of Built-Up Areas in nearly 200 countries worldwide. The contract was signed with a global tech company and is planned to be completed before the end of calendar year 2021. 

In response to the increasing demand for hyper local content, we have designed a unique suite of algorithms and methods that enable us to automate the generation of boundaries or polygons. Using this technology, we have created a new product with worldwide coverage of Built-Up Areas. A built-up area is an area that has a dense concentration of residential or industrial buildings and is typically a subset of a city area. 

Ivo Vleeschouwers, GeoJunxion CFO stated: “With the award of this contract, we are very pleased to see that the investment in the new technology to create bespoke and global Built-Up Areas is paying off. It demonstrates the confidence in our capabilities, and in the team that will deliver on this project.  It is also an important confirmation of our strategic focus on Location Intelligence services.”

Integration and Sourcing services

After the successful completion of a proof-of-concept earlier in Q1 2021, GeoJunxion was granted an order for a larger scale service project. The order was received from a European based Automotive Navigation and Infotainment supplier and will be executed during Q2 and Q3 2021.  Under the terms of the contract, GeoJunxion will assist in improving the navigation map and providing integration and sourcing services to complement the customer’s product.

Thierry Jaccoud, GeoJunxion CEO stated: “This newly signed service contract relays once more our ability to leverage our 25+ years of experience in digital maps and demonstrates our value as a sourcing and services supplier.”